"US cares deeply about promoting Pakistan's economic development and it is an avowed desire that Pakistan soon moves out of being a developing nation depended on GSP or preferential concessions to increase trade. Preferential trade should not be the goal but the means to establish brands and move upwards. This was stated by US Consul General Michael Dodman while addressing the members of Karachi Chamber of Commerce and Industry (KCCI).
The US diplomat, who was accompanied by Anu Prattipati, Jonathan Ward, and Cara Babrowski from the Economic and Commercial Office, said that the targeted focus would be on energy, especially for the benefit of education, businesses and individuals. Dodman also stated that USTR helped in organising the US-Pakistan Business Opportunities Conference in London in association with BoI where focus was on investment, especially in the energy sector.
The American Consul General also said that the Pakistan Private Investment Initiative Fund would also be a game changer as it will pool funds from the US government as well as the private sector and would be implemented and managed by USAID. This Fund would target and assist the SME sector and should be extremely beneficial for it. The response from Pakistan's equity-based funds and financial institutions was very positive and many proposals have already been received.
Dodman said that the Bilateral Investment Treaty would soon be signed after eight years of negotiations. Once signed, the treaty would be sent to Congress for final approval. He applauded the initiative of KCCI to form Pakistan Afghanistan Joint Chamber of Commerce and Industry and the Mumbai Karachi Joint Chamber of Commerce and Industry and termed these as active road-building ventures promoting Karachi as the Gateway to Afghanistan and Central Asia as well as promoting intra-regional trade and investment. He also complimented KCCI for its role in promoting the Karachi-Houston Sister-Chapter Agreement. He was hopeful that KCCI would play a strong role in improving the image of Karachi and Pakistan all over the world, especially in USA.
Siraj Kassam Teli, Chairman Businessmen Group, explained the workings of the Chamber and said that KCCI had been the only Chamber to send two high powered delegations to United States to meet officials and businessmen there. He strongly asserted that KCCI had been in the forefront in highlighting the positive aspects of Karachi and Pakistan.
Earlier, President KCCI Haroon Agar, while welcoming the guest, pointed the dynamics of bilateral trade and investment. He enumerated certain sectors that should interest US businessmen and also help in improving the image as well as the business climate in Karachi. Former Presidents, Majyd Aziz, Anjum Nisar and Mian Abrar also expressed their views and opinions. Shamim Firpo, SVP and Nasir Mahmood, VP offered their thanks and appreciation to the American diplomats.-PR